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. then is the looming fiscal cliff casting a shadow over shoppers and investors this holiday season? visions of bargains are dancing in the heads of consumers. will the possibility of higher attackses slow them down. we'll talk with matthew shay, president of the national retail federation and john sweeney of fidelity investments. the holiday is over for white house and congressional leaders trying to make a deal. we'll ask our sunday panel if they can reach a compromise. >>> a thanksgiving tradition, our power player of the week has me dancing with turkeys, all right now on "fox news sunday." >> chris: hello again from fox news in washington. on this holiday weekend we're watching several major foreign policy developments from egypt to gaza to the continuing converse over the benghazi attack. to talk about it all is senator john mccain. welcome back to "fox news sunday." >> thank you. dancing with turkeys? >> chris: you'll have to wait until the end of the show to see. >> that's what we're doing now. >> chris: let's start with egypt where president morsi granted himself unchecked powers and sent thousa
's a boring pick. >> brenda: cavuto on business. >> david: ready to go fiscal cliff diving? apparently a lot of businesses and shoppers are already afraid of the fall. i'm charles payne in for neil cavuto. with the holiday shopping season underway a lot of consumers are saying no way. and more than half saying the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start with you. bad deal for all of us? >> of course, look, business investment was already down last quarter over 1%, and the word uncertainty just pervades the air and its business, its consumer, how about philanthropic organizations don't no what kind of write-offs for charity and the worst the outcome is probably going to be more, and taxes are going to go up and of course there will be no spending cuts. >> and ben, it does sound ominous, even if you're not someone who reads the wall street journal, the fiscal cliff, fiscal cliff, it could be the-- i don't kn
of the fiscal cliff. today on the senate floor, minority leader mitch mcconnell abusing president obama -- accusing president obama of being back on the campaign trail instead of working with lawmakers. have you seen anything to indicate that we are close to a resolution, or even moving in that direction? >> i haven't. it's hard to come to a resolution when one of the parties to that isn't around. the president, as you mentioned, is out on the campaign trail again. >> greta: you're referring to his trip this friday to pennsylvania. >> right. you've got to have presidential leadership to do big things. that's what we need right now. obviously republicans are here, ready to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost a million small businesses who employee 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference right after the election that his number one priority is jobs and the economy. we agree with that. but if your number o
off the fiscal cliff. this is "special report." ♪ ♪ >> bret: good evening. i'm bret baier. is it a negotiating ploy or really what president obama beliefs can happen? the president may be going down a new path tonight in deficit reduction efforts. it's a path that is sure to lead to many obstacles from the other side. chief white house correspondent ed henry has the new developments in a time sensitive story. >> in a dramatic move today, president obama seemed to be trying to split the budget talks to two pieces. suggesting he and lawmakers come up with spending cuts next year after they avoid the fiscal cliff, by extending middle class tax cuts and raising taxes on the rich. >> it would give us more time than next year to work together. on a comprehensive plan to bring down the deficit, streamline our tax system. do in a balanced way. >> the president apparent shift away from spending and tax altogether now in a big deal could increase the chances of a market rattling fall off the cliff. since the republicans want spending cuts included. >> republicans are willing to put
to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost 1 million small businesses who employ 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference, right after the election, his number-1 priority will be jobs and the economy. we agree with that. but your number-1 priority is jobs and the economy you don't grow the economy to create jobs by raising taxes on small businesses, the people who create the jobs. >> white house press secretary today, jay carney said when he was asked when the next meeting would be, the answer was, it would come, quote at the appropriate time. >> well, nobody know what is that means -- >> no! that's my point. is that -- is that, you know -- look, all of have you had a vacation, i refer, to while you are campaigning the last 3 months. have you known about this fiscal cliff for a year and-a-half. now the president's going out, friday, to do, as you say, campaigning. the press secretary says there will be a
of this fiscal cliff that if my opinion, at least, is starting to hurt spending. >> it is hard to believe because why like toship but a lot of people go because it is a celebration thing, a lot of them are tag about it is like a party like lining up to see the ball drop on new year's so it is not just deal seeking. >>guest: it is becoming a huge event. you have to credit the retailers and the media for building it up because it is a big part of our economy and a quarter of the sales will be taking place here for the year take place in the next couple of weeks, but the fiscal cliff is out there. the fiscal cliff for the consumer is the worst thing that has happened since paris hilton released her debut music album, and there is not a lot of hope for congress to resolve anything. >> but consumer confidence is at a file year high so it must translate into opening of the wallets? >>guest: that is a fair point but if you look at the most recent consumer sentiment survey, you talk about future expectations, they are lower when than the last few months, and the lower expectations are because of the fisc
away from the fiscal cliff. we have fox team coverage. chief washington correspondent james rosen is at the white house to tell us about the president's return to the campaign trail sort of. but we begin with the chief congressional correspondent mike emanuel and another reason that the talk reconciliation so important. good evening, mike. >> good evening. there are strong suggestions that the nation's debt problem may be worse than $16 trillion and counting and key lawmakers are saying it's time to slash spending. >> i can cut $600 billion more out of the federal government tomorrow. nobody would know a difference except for the people employed by the programs here in washington, d.c. >> when asked by fox what he would be willing to cut, the senate majority leader didn't offer anything new. >> remember, we have already done more than $1 billion worth of cuts. we have done that. so we need to get some credit for that. and the negotiations that take place. >> 42 business organizations sent this letter to top lawmakers urging congress not to increase taxes writing, "we strongly urge
guess who. you, and of course the rest of us. we're all on the edge of this fiscal cliff. >> we don't think that raising tax rates is something that's good for this economy, that will help grow jobs. and so what we have said is there are ways for the federal government to have more revenue if we grow this economy and engage in tax reforms. >> every economist i respect says if you raise tax rates at this time -- in fact the president said that a couple years ago -- that it harms the economy. we're trying to help the economy. and so unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and grounds for my position. >> the truth is this country does not need to go through this fiscal cliff, which is fundamentally a huge tax increase and very little spending cuts. we're favoring a huge automatic tax increase that needs to be changed. >> bottom line we can't go off the fiscal cliff. democrats have harry reid. we have mitch mcconnell. get them in the room. no one gets all they want. if reagan and o'neill could do it, obama and boehner sh
friday protests are planned and sandra tracking shoppers fearing the fiscal cliff. william, from lax? >>reporter: a bad travel day is a nightmare for thousands as the fastest growing union in the country is holding a protest on the business of the travel day of the year at the third busiest airport in the country. in was designed to turn this road, way you get into lamb, into a parking lot and they have succeeded. what is bad if travelers is good for the union. they are bringing publicity to an issue that local news and the media would otherwise not cover and that is basically a labor dispute with a small company employing 400 workers. they are protesting a vote by a company, by the workers, decertifying the union, throwing them out, so to speak. >> it is frustrating because they are trying to get home to their families. on a holiday. where people want to see their family. that is crazy. no notwithstanding you. that is how i feel. >> they have something to say. the constitution protects our right to protest. doesn't it? let them do it. more power to them. >> so, they are protesting t
. >> in the scramble to avoid the fiscal cliff, both the president's plan to raise taxes on the wealthy and the republican willingness for revenues could end up hurting charities and rely on the kindness of people with money. >> high income people tend to give very generous gifts. they may give a million dollar contribution to a capital campaign of a local hospital or a local art museum and a small number of donors at the high end that account for really big chunk of the charitable giving in this country and those are the folks that we'd be most impacted by this tax policy change. >> in fact, united way gives 15% of total donations, 500 million dollars a year, from those who give $10,000 or more. so, charities worry that any kind of tax increase on the wealthy could cut into their donations and that money from the wealthy would go to the government in taxes, instead of the charities as donations. >> yes, they aren't taxed on that income, then they're able to give all of that income to charities and nonprofits, back to their communities. >> after all, people have to pay their mortgages a
have haven't, this is going to make you want to puke. 39 days away from a fiscal cliff it turns my stomach because i have been trying to avoid the fiscal cliff. i have a lot to do. i took it upon myself to try to save the country and broker a deal, to try to get them hopping on the trillions of dollars worth of automatic spending cuts and bush tax rates that expire the same second, at stroke of midnight january 1, 2013. with the biggest names in the business community, in the political community, we tried, again and again, to come close to the crisis that could have been avoided at 39 days out remains a chasm. hear their woes, their worries, about being on the brink. fiscal cliff? or fiscal free for all? we are staring at this abyss. no one is even touching it. >> what is amazing to me this is the most predictable financial crisis ever in the history of this country. i suspect we are thought going to anticipate a recession, you will see a recession. >> we should be very careful not to go over the cliff because we will have a negative affect on this economy and on employment. >>neil
from the desk with the couch. >> shepard: this is the fox report. avoiding the fiscal cliff. now the president and house republicans plan to hit the trail in search for support for their competing plans. plus, the u.s. ambassador, susan rice, meets with some of her toughest critics. and apparently they don't like what she has to say. >> we are significantly troubled by many of the answers that we got and some we didn't get. more disturbed now than i was before. >> shepard: republican senators criticizing ambassador rice for her initial comments on the libya consulate attack. >> ambassador rice has no responsibility for collecting, analyzing and providing intelligence. >> shepard: tonight the ambassador responds. >>> plus, the people of egypt trying to avoid trading one dictator for another. fighting back against a president who gave himself new powers. tonight a potential crisis point as the leader tries to put himself above the law. and how will the u.s. handle this? >>> plus, the chances of winning are ridiculously low. but millions of us are still lining up for a shot at a rec
with middle class average folks in america, part of the campaign ahead of the so-called fiscal cliff which is 33 days away. >> typical middle class family of four would see the income taxes go up by $2,200, out of people's pockets. that means less money if bying groceries, less money if filling prescriptions, less money if bying diapers. it means a tougher choice teen paying the rent and paying tuition and middle class families cannot afford that right new. >>neil: my next guest had a thing to say about the diapers comment but it is not credible, middle class business owners scott and when -- wendy. you would both be affected. >>guest: it is disturbs. i built this business starting in the garage. we do window and screen doors and i have 14 employees, seven trucks, we are trying to help the public and we are trying to look at expanding our business and i could see adding another four employees to the roles but we are right on the cusp of that that zone of taxation and it makes you wonder, i know i will meet with the tax guy and he will say you need to think twice. don't expand. this is not
anything to avoid it. i'm referring to the so-called fiscal cliff. you may have heard about it. it's the simultaneous convergence of tax increases and spending cuts designed to pressure lawmakers accepting other negotiated deficit reduction changes. it includes expiration of the bush era tax cuts that would effect everyone. expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates. >>
approach on the fiscal cliff, saying the elect is over. it's time to stop campaigning and start talk. some republicans are telling the president, show us your hand. martha: not over the cliff yet but perhaps headed there. good morning. i'm martha maccallum. the minority leader mitch mcconnell called the president out for what he says is a campaign-style blitz instead of negotiations between both sides. >> rather than sitting down with lawmakers and working out an agreement he's back on the campaign trail. we are not going to solve this problem by creating villians and drumming up outrage. >> he will be out trying to i'm sure zero in on those states represented by members of the house and the senate to try to get public support. bill: democrats upping the ante, looking to raise taxes, protect entitlements and raise the debt ceiling all at the same time. stuart varney, hello, there, sir. you think there has been a shift in those negotiations. >> i don't mean a shift in position. i mean a shift in focus, what they are focusing in on on the last couple days it's been taxes now it seems to be w
right now. tonight as the fiscal cliff drama unfolds on capitol hill, we'll take a step back and look at how we got to this point. namely, how do we become a nation buried under more than $16 trillion debt, why crippling defense cuts, and the largest tax increase will take hold in 35 days because your elected officials don't know how to stop spending money. let me first play a small part of one of the most memorable inaugural addresses of all time. >> my fellow americans, ask not what your country can do for you, ask what you can do for your country. >> sean: sadly five decades removed from that iconic speech, the democratic party, its leaders, and countless other americans, rely on government for too many things. instead of asking what they can do for their country, they're asking what their country can do for them. now the debt record is at record levels, tax rates are soaring, because nowadays handouts have taken the place of hard work. a liberal notion has permeated our society one that now says the federal government, it's their job to find you a job. it's the so-called rich that
the fiscal cliff? >> everybody agrees. >> going over the fiscal cliff will hurt our economy and will hurt job creation in our country. >>er -- every family in america will see their taxes automatically go up at the beginning of next year. >> shepard: so how to avoid that. >> the president and congress will either fail together or we will succeed together. >> there has to be a deal. there has to be an agreement. >> and if they can't come up with a compromise, we are all going to pay the price. plus, they are some of the biggest names in baseball. bonds, clemens, sosa. all three tainted by accusations they used performance enhancing drugs. but should that keep them from cooper's town? tonight, the great debate over baseball's hall of fame ballot but first from fox this wednesday night, the president hopes who have the framework of a deal to avoid the so-called fiscal cliff by christmas. president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make
. congressional leaders are hoping to hammer out a deal to avoid the fiscal cliff. it is clear that the lawmakers are strug struggling to find a common ground. but some are saying there is a compromise. >> the stock market rallied amidst the talk of a possible deal being made. but independent senator joe lieberman is saying there is no done deal. he says, if congress does nothing, which they have gotten pretty good at, we will go over the fiscal cliff. the republicans have conceded that the government needs to find new ways to take in more money and now the fight is centered on where to get it from. >> i would be very much opposed to raising tax rates. but i believe we can change loopholes. >> i want entitlement reforms. democracies promise to cut spending. we never cut spending. i am looking for revenue for entitlement reform. >> reporter: senator graham says age adjustment and means testing for medicare and social security is a reasonable thing. but illinois democratic senator dick durbin doesn't want to touch social security. he thinks the new revenue should come from an increase on the tax ra
busy over the weekend. talking about the fiscal cliff. everyone comes back to work . wonder if they will get to work and cut the deals. republicans made it clear they are willing to budge when it comes to the 20 year pledge not to raise taxes that glover norquist had everyone sign before they took office. >> steve: grover norquist has hundreds of republicans to do that. clearly with the fiscal cliff comment and automatic spending cuts and taxes go up on everybody. something has to be done. the feeling is that it will happen two now. republicans have beenadament and said we can't raise taxes on anybody. and glover norquist said as long as you don't raise tax rates that is okay. and lindsay graham on that. >> i agree we shouldn't raise rates but i think grover is wrong to cap and buy down debt. what do you do with the money and i will violate the pledge for the good of the country only if the democrats do entitlement reform. >> gretchen: i think the pledge thing is good and bad. if you are a republican and believe that raising taxes is the wrong they think that and fine. but h
to the new rules about to hit our already fragile economy and as fiscal cliff talks continue, big defense cuts are still on the table. so, should republicans embrace the sequester or make a deal to avoid it? welcome to the journal, editorial report. is the obamacare a sure thing or vast expansion of medicaid, heavily dependent on state implementation and a growing number of the governors are saying they won't do the federal government's bidding. wisconsin's scott walker is one of them and joins me now, governor, great to have you with us. >> paul, good to be with you. >> paul: when you wrote to the hhs secretary kathleen sebelius, you wouldn't set up a state exchange you wouldn't have the flexibility to make it work. why don't you elaborate on what you mean by lack of flexibility. >> each of the governors who run it, a state run, partnership or referring to the federal government. any folks that have a state run exchange they need to realize in the end there is no flexibility in terms of final outcome, there is no substantive difference between the three option, all of them lead to a fede
and if they don't like hit the brickings. >> do you think it is for the economy over all. we are in a fiscal cliff and rough waters here and now this to deal with? >> i think it could be bad for the economy. they have the merchandise and this is not going to affect thanksgiving shopping season and christmas most likely. but look at history. 1948 we had five million workers on strike and it crippled the economy. the taft hartley act brought back the boom. that is it breaking of the unions and created the boom that eisenhower had. if these union heads go forward. this could hurt the economy. >> tracey, you made the point about the retailers, it could hurt the consumer spending as well the economy needs that right now. and economist looking to the holiday shopping season to get big numbers out. >> cheril, i am a last minute shopper and i disagree that they have everything in for the season. stuff comes in down to the wire in so many small businesses if you don't have what i am looking for when i generally get out there, i am not buying it that hurts the over all economy. and look. at the unions what
and donate it to the fiscal cliff, and she will be here to tell us about it. palestinian leaders headed to the united nations for the landmark vote. should palestinians get statehood? how would that work? what could it mean for peace in the middle east? and the biggest names in all of baseball on the ballot for the hall of fame including three players suspected of having used performance enhancing drugs. what to do in the time of sports, what to do with steroids? that is all ahead unless breaking news changes everything. >> first from fox at 3:00 in new york city the fight over the so-called fiscal cliff has gone from negotiations to playing out in public. today the president laid out the plan to step the looming tax hike in a public push that seemed like a campaign event. president obama meeting with a group of what he described as middle class americans, and repeated the argument for raising taxes on families earning more than $250,000, a plan which republicans so far reject. the president said the re-election shows a majority of americans support his approach. >> not just democrats b
and they are ready to tackle the fiscal cliff crisis. lawmakers are ready tro compromise. >> lawmakers are ready to give in on tax changes in order to get some sort of a deal done. kelly wright joins us with more on what it means for the negotiation. we could be looking at possible tax hikes, isn't that right? >>> oo the government is on automatic pilot. that is five weeks away. for congress there is much work to be done and more compromise to be made in order to avoid the fiscal cliff. it will require give and take negotiations particularly on raising taxes but republican law americas who pledged to not vote for anything with a tax increase now appear ready to relinquish that pledge in order to avoid the looming fiscal crisis. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the grief and republicans should put revenue on the table. >> so everything is on the table and campaign raising taxes on the wealthy is relying on treasury secretary tim geithner. his team will works on issues like medicare even social security. they hoping to avoid a repea
of a compromise as we head for the fiscal cliff? senator lindsay graham, one of the latest high-profile republicans that says he will break the longstanding pledge regarding taxes and says he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this. congressman peter king and now senator bob corker say they will ignore the decades old pledge that was signed by 241 house members and senators. he says he believes it is a huge game-changer. >> when you're $16 trillion in debt the only pledge we should make to each other is to avoid becoming greece. republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. raising tack rates will hurt job creation. bill: this is the heart of the matter. stuart varney, host of "varney & company". morning to you, sir? >> this is a real shift. one
at the meeting later this morning. senator mccain is also talking about know big topic the fiscal cliff. he says the current tax cuts could be extended for another six months. >> meeting this week is interesting. to be a sense of urgency as the market indicates. i think it depends on both sides and what they view is the lesson of the election. republicans maintain their majority in the house. the preside there's a possibili could kick the can down the road for 6 months or so by putting everything on hold. if you are really going to solve this problem if you are really going to address it you have to go after entitlements. everybody knows that's the third rail. that part has to be bipartisan the way it was with tip o'neil and ronald reagan. >> the fiscal cliff making investors nervous but not consumers. that's one of the stories you can bank on this morning. if you looked at cyber monday all of the deals you are not alone. early numbers show that sales were on track to break records. lauren simonetti joins us to look at these numbers. >> i went shopping yesterday, did you? >> i did, actually. >>
a scenario where we go off the fiscal cliff. we can go back into a recession. >> the fiscal cliff reports, but are democrats trying to scare you with massive tax hikes? also chaos in malls across america on black friday. we examine what's behind the holiday hysteria. >> a clear sexism and racism. >> more baseless allegations from the left that racism is fueling criticism of ambassador susan rice. we sounded that alarm about the rise of the muslim brotherhood in egypt. now our predictions are becoming a dangerous reality. all of that, plus video of jamie foxx's bizarre tribute to his lord and savior. barack obama? "hannity" starts right here, right now. >> it's clear the democrats spell blood in the water. if a deal is not reached by january 1st, a series of defense budget cuts will mean massive tax hikes reaching every american. we've seen democrats from the president on down using the so-called crisis to ram their left wing agenda down your throat. they want bigger taxes, bigger government. for example, take a look. >> if despite the dangers of going over the fiscal cliff and what that m
phenomenon. and many will be mourning the larry mag man. and the taxing fiscal cliff. corvers are staying that republicaning are folding under pressure. steve forbes joins us. and the miracle on worthington street. and a massive explosion rocks a massachusetts. and all on america's news head quarters, don't go away. with verizon. hurry in this saturday and sunday for great deals. likehe lucid by lg, free. or the galaxy nexus by samsung, free. this weekend, get the best deals on the best devices on the best network. exclusively at verizon. >> welcome back. later today investigators are assessing the damage done to buildings near a strip club that exploded yesterday. a national gas explosion leveled the building. 18 people were injured there and first responders had evacuated the building when it exploded. listen up. there is a way law makers can avoid the fiscal cliff. the answer is going to require compromise and may include three tread words. some tax indreeses. if president obama want to go back to the clinton era. he needs to follow president obama's lead that included deregulation and
approaching so-called fiscal cliff, which the thanksgiving holiday over, the president and top lawmakers are focusing this coming week on negotiating a deal on those expiring tax cuts and spending reductions that will automatically kick in december 31st, at midnight. so will we see more face-to-face meetings and what do both sides need to do? let's talk with angela mcglowan, and mark hammond a former aid to john kerry and nice to see you both. i predict more face-to-face meetings and i think they'll get together, kind of like holiday dinners, you see a lot of people you might not choose to see, but you have to see them, right. >> you have to see them and you might not want to see them again for another year, but, he yes, rick, they have to come to the table again and again and again until we reach a deal. if we go off the fiscal cliff, it's predicted that we will get another recession, now they're saying if we go off the fiscal cliff it only impact certain americans with taxes increasing and it will affect our country and economy. and we need face-to-face meetings and i don't think that
." ♪ ♪ >> eric: who in the world can save us from the fiscal cliff? >> first of all, give honor to god. ♪ ♪ lord and savior, barack obama. >> eric: not even that savior. 36 days going over the fiscal cliff. you should know what is at stake if partisans don't figure out a way soon. bush tax cut goes away and that alone would drive taxup fo. the patches will die as well. so add in the failure of the super committee and sequestered $1.2 trillion. spending cuts of $600 billion in defense. why are we here? you can't blame revenues. americans forked over $2.3 trillion in taxes and fees last year. the taxaholics are stone cold drunk on our spending. spending is out of control. mr. president, waiting for you to stand up and show leadership. bob, haven't heard a thing. crickets. >> eric: i think you heard things. there is movement going on here. >> bob: i'm glad they're breaking away from norquist and say there is a need for revenue. i think whether that comes in form of limiting deductions to $50,000 for people making over $250,000 or -- >> eric: i can say. we will get to all of that. we'll get to the d
-called fiscal cliff, and they're not holding back. elizabeth macdonald is with the fox business network. okay, liz, so who are these corporations, and what exactly are they saying? >> good to be with you, arthel. it's walmart, cvs and wall greens. walmart or is basically saying, look, customers don't need the uncertainty over tax increases, and let's get to cvs caremark because these two drug store chains are basically making rare public policy statements that we've never seen before from these companies. they're urging washington to avoid the fiscal cliff. cvs caremark is essentially saying, look, our customers are hard working american families, they make decisions on the budget. they've been faced with, basically, persistent high unemployment, fragile economic growth, and they want to know that d.c. is working on their behalf. so and that was also the same sentiment that you heard out of walgreens. walgreens also saying, basically, the health of the u.s. economy, the recovery and american families depends on a consensus agreement in washington, d.c. to avoid the fiscal cliff, and walgreens
that would avoid that potentially devastating fiscal cliff that is looming over the u.s. economy right now. the president is meeting with small business owners at the white house today. he had a series of meetings with different business leaders over the last week. despite the warnings that the talks are stalling on capitol hill stuart varney joins me now, host of "varney & company" on fox business network. >> good morning, martha. bill:. martha: what are you hearing how this is going? >> it is impasse basically. the republicans said yesterday they accommodated the democrats they will agree to get more money from wealthy people from higher taxes but mitch mcconnell, senate republican leader, he says there has been no similar compromise from the democrats or the president. he says they are still holding out for higher tax rates on the rich and he says the radical left is prescenting the democrats and president and agreeing to serious reform from medicare. martha, i have to tell you. i got new numbers from medicare, from trustees, actually. medicare has to pay out in the future $42 trillion.
return to capitol hill tomorrow to try to work on a deal to avoid that fiscal cliff you've heard about a time or two. >> clayton: yeah, peter doocy live in washington this morning with the latest on where these negotiations stand and we can expect, i guess, tomorrow, peter, they get back to work after thanksgiving? >> reporter: that's right, clayton, so far just one meeting we know about the small, but bipartisan group of lawmakers trying to speteer the country away from the fiscal cliff and represent their parties. right after the bat after the first meeting speaker boehner told us he's ready to agree to new revenue in a deal, but the deal needs to be balanced. >> to show to your seriousness we've put revenue on the table, as long as it's accompanied by significant spending cuts. and while we're going to continue that revenue on the table. it's going to be incumbent for my colleagues to show the american people that we're serious about cutting spending and solving our fiscal dilemma. >> democrats, obviously, control the white house and the senate, but they still need the republican-le
have an admiral pass in my pocket. who is with me. meanwhile, we have a fiscal cliff to climb. her meetings with senators mccain and graham and ayotte created more questions than answers. ambassador susan rice taking her case to two more republicans today. peter doocy has more. >> you are right, brian. ambassador rice will meet with susan collins from maine and bob corker from tennessee . ahead of his meeting that what worries him most about ambassador rice she may be more concerned about delivering the party line than pressuring the administration when it might be off base. three other republican senators met with the embattled ambassador and that meeting did little to quiet their harsh criticism of her job performance. >> i am more concerned than i was before that the 15th of september explan of how four americans died in benghazi, libya. >> why she wouldn't have asked i am the person who doesn't know about this and going on every show. it is not only the talking points unclassified but part of her responsibility as the ambassador . united nations she reviewed more than that. >>
: the old fiscal cliff is still hanging out there. new perspective on the political implications. the risk for the president as well as democrats if lawmakers do not reach a deal. and it will cost you more to drive over to grandma's house for thanksgiving. plus, it is way beyond your control could make travel even more expensive. all coming up on "happening now." can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. time for cii price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind
. if we grew at 4 percent we would not have the so-called fiscal cliff. >>neil: what do you think of grover norquist and the easy fix? >>guest: i think he has done a great service to the country in getting so men people to take a pledge because this is some pressure on the people, now to go back on their word and there should be pressure because it is the wong thing to do so grover norquist and americans for tax reform, i worked with him for 15 years getting the state letters to sign the pledge, and it holds people's feet to the fire and to sign this, if they go back on their word they will suffer the repercussions next election. >>neil: thank you, senator. if republicans telling grover is over are making senator harry reid happy, should that make you worry? who better to ask than grover? tonight, on fox business network. you don't get it? demand it. you don't want to miss this. >> steer clear of the cliff, gouge them at the pump? get ready for real road rage. >>neil: i am headed off to the city of angels. the ladies can't wait. >> so crazy it is here. >> my heart is pounding. >>
the economy going over the fiscal cliff. no mystery what the issues areu. the democrats know, republicans know and so does president obama. entitlements are pushing the country toward financial ruin. here is what the president said in 2010. >> the major driver of the long-term liabilities is medicare, medicaid and healthcare spending. nothing comes close. social security we could probably fix the same way tip o'neil and ronald reagan sat down together and we could figure something out. that is manageable. medicare and medicaid, massive problems down the road. that's where, that is what our children have to worry about. >> dana: here we are, two years later and still no plan. on the left in congress refusing to deal with that simple reality. vermont senator bernie sanders caucuses with the democrats. take a listen. >> i get nervous when i hear the president and others continue to talk about quote/unquote, entitlement reform. which is just another cut for medicaid and medicare and social security. >> eric: brian, start with you, today. >> dana: you look surprised. >> brian: i am. yet honored. >>
youk on. they have a little time before fiscal cliff. lack of progress. >> we are a little over four weeks away from the fiscal cliff and still no progress. there is a massive tax hike in spending cuts, it only intensifies on comments by harry read essentially confirming the budget talks still remain worlds apart. the dow down nearly 90 points. >> this will be a big topic in the future. college loan debt. that could be the next housing bubble. >> the federal lending making college education to any one is really only creating a pile of debt so large that since 2007 it has risen 56 percent while other forms of debt like auto debt mortgage debt that declined. u.s. student debt rose $950 billion according to the federal bank of new york. now 11 percent of those balances are at least 90-days late. that is higher than credit card late payments for the first time in history. >> if the student continue to default that is the u.s. taxpayers picking up the tabs. >> most of the student debt is in the grace period so the number is probably even higher. >> we will keep following that one. christm
-called fiscal cliff. state hoyce are joining law makers pushing for 18.4 percent tax hike. the tax last raised in 1993. hundreds of our nation's heros getting a warm welcome home in new jersey. vol tierce greeted the soldiers and served them a traditional turkey dinner with all of the trimmings. >> motorcycle is coming and all . people that greeted us was a wonderful experience. nbest thing i had seen in years. >> and this speed and truth event is held every year. >> that is your five on five. nthis morning, israel arrested the person behind wednesday's bomb blast on a bus in tel-aviv while the cease fire between israel and hamas is holding up. peter doocy has more in washington. >> good morning, patty. twen people - 27 people were injured when the bus exploded and an an arab-israeli is in custody for planting the bomb. pam pal militants with ties to hamas and other islamic jihadist in tel-aviv to plant the bomb and call would the handlers it was in place and they dialed a mobile phone that triggered the blast. the man admitted to carrying out the terrorist attack and now we'll wait and see if
. >> and talking about yoga pants tomorrow. >> brenda: forget the fiscal cliff. is the union clash with businesses a bigger threat to jobs? from protesting wal-mart on the busiest shoppings day of the year and targeting one frt busiest u.s. airports on one of the busiest travel days of the year. we'll see big labor's travel play, a blow to a chance for anyone's recovery. hi, everyone, i'm brenda buttner, this is bulls and bears, and here we go the bulls and bears, gary b smith, tobin smith, jonas max ferris along with jim la camp and steve murphy, welcome to everybody. jim, growing union clashes with job creators, growing concerns about jobs? >> absolutely. look, every time you make it harder for an employer to hire somebody they're going to hire less people. we're already seeing it in the jobs numbers. look, obamacare has already cost a tremendous amount of jobs and since the president was reelected and it became apparent that obamacare was coming back in, we've seen the layoffs accelerate and now the unions are trying to kick businesses at a time when businesses are hurting and at a time when th
, lawmakers working to find common ground on the fiscal cliff before it's too late. plus, holiday shoppers looking for deals, pushing this cyber monday sales through the virtual roof. it's shaping up to be a possible record-breaker. shoppers spending more money today than ever before. a lot of them are not paying sales tax. now a move to close the loopholes that are costing states millions. plus at least when people shop online this doesn't happen. [oh] >> shepard: tonight, the brawl at the mall. a jury cleared casey anthony of murdering her little girl. >> we, the jury, find the defendant not guilty. >> shepard: now some potentially explosive evidence about a computer search somebody did on the day little caylee disappeared. and this was no ordinary parade can a gety. >> snn colon and then a number. >> shepard: shredded police documents apparently reigning down on the thanksgiving day crowd. >> i didn't know what to make of all of this information. >> tonight, investigation and police respond. but first from fox this monday night, some republicans are now saying they are willing to break
fiscal cliff president obama is taking his case to small business owners from across the country, meeting with more than a dozen at the white house, looking to avoid a year-end tax hikes and spending cuts. republican leaders will meet with a bipartisan group of former members of congress as list leaders as well as both sides hold the line on taxes. >> i'm willing to put revenue on the table to pay down debt and create a better economy but my democratic friends have to reform entitlements. what will make us greece is not raising taxes. what will make us greece is not fixing medicare, medicaid and social security. jon: white house press secretary jay carney says president obama will not give on extending current tax rates on wealthy americans. on entitlements carney says the president is open to changes except when it comes to social security. >> the president has long made clear that he is open to discussions about strengthening social security as part of a separate track. jon: so is the u.s. economy heading for a plunge over the fiscal cliff? with us now, associate editor and columnist fo
negotiate a deal to try to avoid the coming fiscal cliff. our chief white house correspondent ed henry is live at the white house. so what are we expecting from the president today, ed? >> reporter: jon he is going to meet with business leaders as you say later this hour. he will come out and talk about where he believes these fiscal cliff talks are. you remember on friday he will be in pennsylvania for essentially a campaign-style event to try and pressure republicans to move forward in these talks. the white house also has this new twitter campaign they unveiled today, the hashtag, my 2 k, as in $2000 believes middle class families will get if the president's push to extend bush-era tax cuts for the middle class to continue. republicans have been saying that is all about campaigning. jay carney, the white house spokesman says it is about engaging the public. take a listen. >> the president spoke with speaker of the house boehner and senate majority leader reid over the weekend. our team is continuing discussions with their congressional counterparts on this matter, and it is entirely
all, he's trying to reach a bipartisan deal to avoid the fiscal cliff? >> right. look, i would be surprised if the president put her forward given everything that we've seen. there were one or two scenarios, right? either she was, this was a tryout for her and she failed, or it was the case that they sent her out on purpose as the president suggested when he said they sent out susan rice who, quote, had nothing to do with benghazi. gregg: right. >> they sent her out on purpose to basically do little other than to mouth administration talking points. in either case, she comes out of those five appearances looking like she doesn't know what she was talking about in the best case scenario, or she was being dishonest in the worst case scenario. gregg: but, steve, look, here's the deal, do republicans really want this fight over secretary of state? time magazine made the following point, we'll put it up on the screen: gregg: the optics favor the white house. >> look, who cares about the optics? if she went out and told a story which wasn't true, which everybody now can see, you have
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